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Southern Africa Tag

Report Reveals Record Investment In Local Venture Capital Landscape

 The latest report by The Southern African Venture Capital and Private Equity Association (SAVCA), titled the  SAVCA 2020 Venture Capital Industry Survey has revealed that the local venture capital landscape experienced record investment and exit activity in 2019.  According to Investopedia, an exit refers to when an investor, trader, venture capitalist, or business owner decides to liquidate a position financially when their financial goals or aims have been met or exceeded.  Although local venture capital investors may have experienced a significant slowdown in deal activity due to the impacts of Covid-19, the report indicates that a total of 38 exits took place in 2019.  According to SAVCA, this number is...

Naspers Foundry Invests In The Food Service Industry, With Stake In Food Supply Network

Naspers Foundry, the venture capital subsidiary of the South African group Naspers, has concluded its third deal with an undisclosed investment in Food Supply Network (FSN), a food systems integrator. The subsidiary was launched in October 2018 with a fund of 1.4 billion rand ($85.2 million) and has already invested in two projects for a total of 130 million rand. “We’re extremely excited about our partnership with Naspers Foundry. Naspers brings unparalleled global experience, marketplace expertise, and extensive networks to the table. Their capabilities complement our own, as well as those of our existing partners at Venturen, who also participated in this round. Naspers shares our...

Cape Town-Based CredoLab Raises $7m To Expand Across Africa

CredoLab, a Cape Town-based developer of bank-grade digital credit scorecards based on smartphone metadata has secured USD 7 million in its Series-A round funding for expansion. CredoLab, with operations in Kenya, Nigeria, and South Africa, says the round was led by by GBG and participation from Walden International, an existing investor, and Access VC, among other new investors. With the funding, the firm aims to consolidate its leadership in Southeast Asia and expand its market reach in Africa, Latin America, Asia, and key countries across the EU. In a statement, Peter Barcak, CEO and founder of CredoLab, “Our offering is positioned to support economic recovery in the markets we operate...

SA e-health startup Guidepost raises further funding to help it scale

South African diabetes health and insurtech startup Guidepost has raised an undisclosed amount of further funding to help it increase its impact. A technology platform that enables highly personalised, data-driven diabetes management at scale, Guidepost allows patients to better manage their illness, and during its six years of operation has achieved a 45 per cent reduction in diabetes complications across more than 8,000 patients. The startup, which also allows insurers to significantly better manage their diabetes risk, raised funding from Rand Merchant Investments (RMI) through AlphaCode in November of last year, and has now secured additional funding from the same company as well as from investment fund Endeavor. Having grown rapidly into a national network...

Join the Samsung Enterprise Development Programme Growing South Africa through entrepreneurship

Samsung South Africa has announced its EEIP (Equity Equivalent Investment Programme) plans, aimed at empowering previously disadvantaged South Africans, with a focus on women and youth-led startups. The programme initiatives are set to strengthen black economic empowerment through enterprise development, thus boosting economic growth and job creation. The programmes are formulated to make a measurable difference and are aligned to the overarching objectives of the NDP Vision for 2030 and the Gauteng Township Economy Revitalisation Strategy. The aim is to find and support — through grant funding — high potential entrepreneurs to help them grow their businesses sustainably. In addition, a focus on establishing black businesses in the heart of...

Daily Digest, Wednesday 1 July 2020

GFA Weekly Round-Up [Podcast] June22-25 The GetFundedAfrica team is proud to launch the very first episode of the GFA weekly round up segment. About The GFA Weekly Round up Nichole and Adebola (Founder) discuss the funding activity recorded on the GFA platform and deep dive into the blockchain industry in Africa. Listen To The Podcast Here Funding In West Africa Ghana Board Celebrate $200M Disbursement Of Loan To Boost Cocoa Productivity Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of $200 million of a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer. Read more Funding In Southern Africa South Africa’s Mama Money Expands...

Daily Digest Friday, 5 June 2020

Funding In Southern Africa South Africa: Spear Capital invests R100mln in RunwaySale In South Africa, the private equity firm Spear Capital announced an investment of R100 million (about $5.7 million) in the fashion e-tailer RunwaySale. The investment conditions were not disclosed. See more SA cashless payment platform Sticitt lands R3m from new VC Cape Town based cashless payment platform Sticitt has landed a R3-million investment from a new SA venture capital (VC) company, Crucis VC. Sticitt was founded in 2018 by Mitch Dart, Dennis Wevell and Theo Kitshoff (pictured above, from left to right, respectively) and today has nine employees. See more Funding In West Africa Nigeria: Sanlam Emerging Markets acquires full stake in...

SA cashless payment platform Sticitt lands R3m from new VC

Cape Town based cashless payment platform Sticitt has landed a R3-million investment from a new SA venture capital (VC) company, Crucis VC. Sticitt was founded in 2018 by Mitch Dart, Dennis Wevell and Theo Kitshoff (pictured above, from left to right, respectively) and today has nine employees. While the startup was previously able to tap funding from a family member and a friend, who is an asset manager, this is the company’s first major external investment. Kitshoff, a former banker, linked up with Wevell and Dart who worked together in a Pretoria based tech consulting company called Limitless Virtual that Wevell founded. Limitless Virtual no longer exists, after it was spun...

SA founded water drone startup Ranmarine Technology lands Series-A investment

Netherland-based startup RanMarine Technology, founded by South African Richard Hardiman, has netted a Series-A investment from European investor Boundary Holding. The startup has designed the WasteShark a 24-hour on-the-water drone. The solar-powered drone collects detritus, marine waste and chemical substances from ports and canals. While Hardiman (pictured above) founded the startup in 2015 in South Africa, the company was later re-incorporated in the Netherlands at the start of 2018 as RanMarine Technology BV. The deal was initially reported in the London Daily Post in an article on Tuesday (26 May). Hardiman (pictured above) told Ventureburn in an email yesterday that Boundary Holding invested in the startup’s European entity. The deal was in the works...

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